help in homework

New User?

Fill This Form To Receive Instant Help

Help in Homework
trustpilot ratings
google ratings


Homework answers / question archive / Viva Ltd had the following results for the year ending 31 March 2019

Viva Ltd had the following results for the year ending 31 March 2019

Accounting

Viva Ltd had the following results for the year ending 31 March 2019. Trading income Bank interest Capital gains Qualifying charitable donations Dividends received from UK companies £400,000 £2,000 £5,000 £ (2,000) £45,000 Required: Calculate the corporation tax liability for the year ended 31 March 2019. A. E 76.950 B. E19.950 C. £ 17.000 D.E 25.000

pur-new-sol

Purchase A New Answer

Custom new solution created by our subject matter experts

GET A QUOTE

Answer Preview

Tax Liability is calculated as below:

Particulars Amount (in GBP)
Trading Income 400,000
Bank Interest 2,000
Capital Gains 5,000
Less: Donations (2,000)
Dividends (Exempt) Nil
Taxable Income 405,000
Corporation Tax 19%
Tax Liability 76,950

The correct option is option A i.e. GBP 76,950.

Sitejabber (5.0)

BBC (5.0)

Trustpilot (4.9)

Google (5.0)